Puma 'Pinning Its Hopes' For Sales Success On Jamaican Sprinter Bolt

Puma hopes Usain Bolt's performance in London can boost the company's brand.

Puma is "pinning its hopes" on Jamaican sprinter Usain Bolt's
performance at the London Games to "speed up sales and outpace its
bigger competitors adidas and Nike," according to Etienne Balmer of the
AFP. Bolt is a "key plank" in Puma's strategy to "shift its focus from
lifestyle clothing to sportswear." The sportswear category currently
accounts for 35% of Puma sales, but company CEO Franz Koch "wants to
boost that to 40 percent and the company sees its sponsorship of double
world-record holder Bolt as key to that aim." Puma also sponsors the
entire Jamaican Olympic team, and Puma Head of Global Sports Marketing
& Sports LawChristian Voigt said, "The way of life
in Jamaica, its music, its relaxed attitude, its style, its colours.
This is also Puma's spirit." Balmer noted with profits "hit by the
eurozone crisis, Puma is hoping for a strong Olympics to revive its
fortunes." For the full year, Puma "is aiming at an increase of between
five and 10 percent in turnover with a roughly five-percent boost in net
profits." The company is "due to release updated figures on July 26" (AFP, 7/15).